Invest in India News

MUMBAI: Big B is at the crest of a Bitcoin wave which few — least of all the Bollywood men — had probably ever imagined.The cryptocurrency mania that has gripped Wall Street and many financial markets across the world has driven up the value of a stock investment by the Bachchan family from $250,000 to $17.5 million in two and a half years.

BENGALURU: Startups that have raised that angel investments continue to receive income tax (I-T) notices which they insist are based on unfair assessments, and which force them to spend an inordinate amount of time and resources responding to and appealing against.

The Cottage Industries play an important role in the Indian Economy and generation of employment opportunities to the unemployed youth of the Country. Cottage Industries not only play a crucial role in providing large employment opportunities but also help in Industrialization of rural and backward areas of the country thereby reducing the regional imbalance, assuring more equitable distribution of national income and wealth. It also contributes enormously to the socio economic development of the country.

Based on recommendations of the Technical Committee, the Insolvency and Bankruptcy Board of India (IBBI) has laid down the Technical Standards for the performance of Core Services for the following matters under Regulation 13 of the IBBI (Information Utilities) Regulations, 2017:

A Financing Agreement for IBRD loan of USD 250 million (equivalent) for the “Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) Project” was today signed with the World Bank. The Financing Agreement was signed in New Delhi by Joint Secretary, Department of Economic Affairs Shri Sameer Kumar Khare on behalf of Government of India and Mr. Junaid Kamal Ahmad, Country Director, World Bank (India) on behalf of the World Bank.

After considering various representations received and inputs received from Banks, it has been decided to notify 31st March, 2018 or six months from the date of commencement of account based relationship by the client, whichever is later, as the date of submission of the Aadhaar number, and Permanent Account Number or Form 60 by the clients to the reporting entity. Necessary notification in this regard has been issued.

The Ministry of Electronics and IT has been working to translate Prime Minister Shri Narendra Modi’s vision of Sabka Saath, Sabka Vikas, through digital inclusion. Digital India program was launched by the Government to ensure digital service delivery to the common people as well as to create new opportunities in the digital economy. Schemes such as BPO Promotion and Common Services Centres have helped us create digital inclusion and equitable growth.

Government has issued Guidelines under Section 63 of the Electricity Act, 2003 providing a framework for procurement of wind power through a transparent process of bidding including standardisation of the process and defining of roles and responsibilities of various stakeholders. These Guidelines aim to enable the Distribution Licensees to procure wind power at competitive rates in a cost effective manner

Transition to GST provided for trust based transition of input tax credit of the existing taxpayers. A tax payer could file Form TRAN-1 and avail input tax credit on the basis of closing balance of the input tax credit declared in the last return under the pre GST regime. The last date for filing of Form TRAN-1 is 27th December, 2017. In keeping with the philosophy of voluntary compliance, revision of Form TRAN-1 has also been provided. The last date for revision of TRAN-1 is also 27th December, 2017.

Sleuths of the Directorate of Revenue Intelligence (DRI), a pioneer Intelligence Agency of the Government of India, zeroed in on an office premises at Bharuch in Gujarat State and recovered about Rs. 48.91 crores of demonetised currency in Rs. 500 and Rs.1,000 denomination currency notes.